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| -Short Attention Span Theater- | |
| Pacific G&E will file for bankrupcy; CEO quits - California Wildfires | |
| 2019-01-15 | |
| Geisha Williams is stepping down as the CEO of PG&E Corp., the largest utility in the U.S., while potential liability over recent California wildfires drives the company into bankruptcy. PG&E announced Williams’s departure Sunday and its plans to file for Chapter 11 bankruptcy a day later. Investigators found that the power utility had caused 17 major wildfires in 2017, and evidence suggests the company may be responsible for others in 2018 as well. (common stock down about 50% today at posting time)
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| Posted by:lord garth |
| #8 Those work really well in sustained winds, AP. They just add weight to the equation if there are massive gusts as was the case here. Still was the lack of maintenance on PG&E's part. |
| Posted by: Mullah Richard 2019-01-15 19:01 |
| #7 Socialist state going the way of Venezuela.. |
| Posted by: 49 Pan 2019-01-15 14:16 |
| #6 And Stockbridge dampers are endangered too. |
| Posted by: Alaska Paul 2019-01-15 12:08 |
| #5 This is a good example of when white collar workers should be held responsible for criminal charges. A few years in stir for ol' Geisha and maybe some others might start paying attention to their responsibilities rather than just their pay check or politics. |
| Posted by: AlanC 2019-01-15 10:04 |
| #4 Wild fires because they didn't trim trees near powerlines! And pay attention to the documented (yes, it was) damaged/missing high-wire support saddles, cracked/bent insulators and bent/broken lattice spreaders on the aerial pylons in the canyon where the cables came down. The lack of the above maintenance corrections would have allowed the heavy high-voltage cables more flexibility to whip around in the wind with forces beyond what the structures were designed to handle. Kinetic energy and all that icky science stuff. A 200-foot clear cut under the lines would have been good too, but any sparks on a windy day travel a long way. |
| Posted by: Mullah Richard 2019-01-15 08:38 |
| #3 San Bruno pipeline explosion |
| Posted by: Frank G 2019-01-15 06:59 |
| #2 Geisha Williams Born Geisha J. Jimenez 1961/1962 (age 56–57) Cuba Nationality American Alma mater University of Miami Nova Southeastern University Occupation Businesswoman Title Former CEO, Pacific Gas and Electric Company Term March 2017 - January 2019 Salary $8,597,220 (2017)[1] Our elites are worth every penny. How many tree trimmers could have been hired for $8.6 million? |
| Posted by: Grert Hatrack4838 2019-01-15 06:51 |
| #1 As the company value, because of past and future liability claims, declines into Junk Bond territory -- who would buy it? The Chinese? |
| Posted by: magpie 2019-01-15 00:52 |